Logan Resources Ltd (CVE:LGR) operator ALX Uranium Corp. has begun its diamond drilling program at the Gorilla Lake property in the western Athabasca basin, Saskatchewan, the company said on Monday.
Gorilla Lake is located within the Carswell impact structure, approximately 15 kilometres north of the past-producing Cluff Lake uranium mine, which operated from 1980 to 2002.
ALX has an 80-per-cent ownership interest, with Logan having a 20-per-cent interest carried through feasibility. ALX is the operator of the Gorilla Lake property and as such, will finance 100% of the project-related costs. Logan Resources acquired the Gorilla Lake property in 2004 and, in 2005, optioned the property to ESO Uranium Corp., a predecessor company to ALX.
The 2017 drilling program is planned to include four holes totalling approximately 1,000 metres. Work will be focused on the northern portion of the property and will follow up on basement-hosted uranium mineralization that was previously intersected in historical holes CLU-01 (0.46 per cent U3O8 over 1.5 metres) and CLU-07 (0.17 per cent U3O8 over seven metres) drilled in 2006. The uranium mineralization is associated with numerous conductors, as defined by airborne and ground electromagnetic surveys, and is coincident with a distinct northeast-trending gravity low highlighted from a ground gravity survey conducted in the winter of 2016.
In addition, drilling will test an airborne electromagnetic anomaly approximately 1,500 metres south of Gorilla Lake, coincident within a distinct northeast-southwest-striking gravity low.
Story by ProactiveInvestors